Chapter 13.4, Problem 18E

BuyFind*arrow_forward*

11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

In Problems 17-26, *p* and *C* are in dollars and *x* is the number of units.

The demand function for a product is

To determine

**To calculate:** The Consumer’s Surplus for a product whose demand function is approximated by

Explanation

**Given Information:**

Demand function is approximated by

The equilibrium price is

**Formula used:**

According to the Consumerâ€™s Surplus:

If the demand curve has equation

**Calculation:**

Consider the demand function,

Since, to know the quantity to be purchased at equilibrium price,

Let,

Now, substitute the value

Thus, the equilibrium point

Consider the formula,

Sect-13.1 P-1CPSect-13.1 P-2CPSect-13.1 P-1ESect-13.1 P-2ESect-13.1 P-3ESect-13.1 P-4ESect-13.1 P-5ESect-13.1 P-6ESect-13.1 P-7ESect-13.1 P-8E

Sect-13.1 P-9ESect-13.1 P-10ESect-13.1 P-11ESect-13.1 P-12ESect-13.1 P-13ESect-13.1 P-14ESect-13.1 P-15ESect-13.1 P-16ESect-13.1 P-17ESect-13.1 P-18ESect-13.1 P-19ESect-13.1 P-20ESect-13.1 P-21ESect-13.1 P-22ESect-13.1 P-23ESect-13.1 P-24ESect-13.1 P-25ESect-13.1 P-26ESect-13.1 P-27ESect-13.1 P-28ESect-13.1 P-29ESect-13.1 P-30ESect-13.1 P-31ESect-13.1 P-32ESect-13.1 P-33ESect-13.1 P-34ESect-13.1 P-35ESect-13.1 P-36ESect-13.1 P-37ESect-13.1 P-38ESect-13.1 P-39ESect-13.1 P-40ESect-13.2 P-1CPSect-13.2 P-2CPSect-13.2 P-1ESect-13.2 P-2ESect-13.2 P-3ESect-13.2 P-4ESect-13.2 P-5ESect-13.2 P-6ESect-13.2 P-9ESect-13.2 P-10ESect-13.2 P-11ESect-13.2 P-12ESect-13.2 P-7ESect-13.2 P-8ESect-13.2 P-23ESect-13.2 P-24ESect-13.2 P-13ESect-13.2 P-14ESect-13.2 P-15ESect-13.2 P-16ESect-13.2 P-17ESect-13.2 P-18ESect-13.2 P-19ESect-13.2 P-20ESect-13.2 P-21ESect-13.2 P-22ESect-13.2 P-25ESect-13.2 P-26ESect-13.2 P-27ESect-13.2 P-28ESect-13.2 P-29ESect-13.2 P-30ESect-13.2 P-31ESect-13.2 P-32ESect-13.2 P-33ESect-13.2 P-34ESect-13.2 P-35ESect-13.2 P-36ESect-13.2 P-37ESect-13.2 P-38ESect-13.2 P-39ESect-13.2 P-40ESect-13.2 P-41ESect-13.2 P-42ESect-13.2 P-43ESect-13.2 P-44ESect-13.2 P-45ESect-13.2 P-46ESect-13.2 P-47ESect-13.2 P-48ESect-13.2 P-49ESect-13.2 P-50ESect-13.2 P-51ESect-13.2 P-52ESect-13.2 P-53ESect-13.2 P-54ESect-13.2 P-55ESect-13.2 P-56ESect-13.2 P-57ESect-13.2 P-58ESect-13.2 P-59ESect-13.2 P-60ESect-13.2 P-61ESect-13.2 P-62ESect-13.2 P-63ESect-13.2 P-64ESect-13.2 P-65ESect-13.2 P-66ESect-13.2 P-67ESect-13.2 P-68ESect-13.3 P-1CPSect-13.3 P-2CPSect-13.3 P-3CPSect-13.3 P-1ESect-13.3 P-2ESect-13.3 P-3ESect-13.3 P-4ESect-13.3 P-5ESect-13.3 P-6ESect-13.3 P-7ESect-13.3 P-8ESect-13.3 P-9ESect-13.3 P-10ESect-13.3 P-11ESect-13.3 P-12ESect-13.3 P-13ESect-13.3 P-14ESect-13.3 P-15ESect-13.3 P-16ESect-13.3 P-17ESect-13.3 P-18ESect-13.3 P-19ESect-13.3 P-20ESect-13.3 P-21ESect-13.3 P-22ESect-13.3 P-23ESect-13.3 P-24ESect-13.3 P-25ESect-13.3 P-26ESect-13.3 P-27ESect-13.3 P-28ESect-13.3 P-29ESect-13.3 P-30ESect-13.3 P-31ESect-13.3 P-32ESect-13.3 P-33ESect-13.3 P-34ESect-13.3 P-35ESect-13.3 P-36ESect-13.3 P-37ESect-13.3 P-38ESect-13.3 P-39ESect-13.3 P-40ESect-13.3 P-41ESect-13.3 P-42ESect-13.3 P-43ESect-13.3 P-44ESect-13.3 P-45ESect-13.3 P-46ESect-13.3 P-47ESect-13.3 P-48ESect-13.3 P-49ESect-13.3 P-50ESect-13.4 P-1CPSect-13.4 P-2CPSect-13.4 P-3CPSect-13.4 P-1ESect-13.4 P-2ESect-13.4 P-3ESect-13.4 P-4ESect-13.4 P-5ESect-13.4 P-6ESect-13.4 P-7ESect-13.4 P-8ESect-13.4 P-9ESect-13.4 P-10ESect-13.4 P-11ESect-13.4 P-12ESect-13.4 P-13ESect-13.4 P-14ESect-13.4 P-15ESect-13.4 P-16ESect-13.4 P-17ESect-13.4 P-18ESect-13.4 P-19ESect-13.4 P-20ESect-13.4 P-21ESect-13.4 P-22ESect-13.4 P-23ESect-13.4 P-24ESect-13.4 P-25ESect-13.4 P-26ESect-13.4 P-27ESect-13.4 P-28ESect-13.4 P-29ESect-13.4 P-30ESect-13.4 P-31ESect-13.4 P-32ESect-13.4 P-33ESect-13.4 P-34ESect-13.4 P-35ESect-13.4 P-36ESect-13.5 P-1CPSect-13.5 P-2CPSect-13.5 P-3CPSect-13.5 P-4CPSect-13.5 P-5CPSect-13.5 P-6CPSect-13.5 P-1ESect-13.5 P-2ESect-13.5 P-3ESect-13.5 P-4ESect-13.5 P-5ESect-13.5 P-6ESect-13.5 P-7ESect-13.5 P-8ESect-13.5 P-9ESect-13.5 P-10ESect-13.5 P-11ESect-13.5 P-12ESect-13.5 P-13ESect-13.5 P-14ESect-13.5 P-15ESect-13.5 P-16ESect-13.5 P-17ESect-13.5 P-18ESect-13.5 P-19ESect-13.5 P-20ESect-13.5 P-21ESect-13.5 P-22ESect-13.5 P-23ESect-13.5 P-24ESect-13.5 P-25ESect-13.5 P-26ESect-13.5 P-27ESect-13.5 P-28ESect-13.5 P-29ESect-13.5 P-30ESect-13.5 P-31ESect-13.5 P-32ESect-13.5 P-33ESect-13.5 P-34ESect-13.5 P-35ESect-13.5 P-36ESect-13.5 P-37ESect-13.5 P-38ESect-13.5 P-39ESect-13.5 P-40ESect-13.5 P-41ESect-13.5 P-42ESect-13.6 P-1CPSect-13.6 P-2CPSect-13.6 P-1ESect-13.6 P-2ESect-13.6 P-3ESect-13.6 P-4ESect-13.6 P-5ESect-13.6 P-6ESect-13.6 P-7ESect-13.6 P-8ESect-13.6 P-9ESect-13.6 P-10ESect-13.6 P-11ESect-13.6 P-12ESect-13.6 P-13ESect-13.6 P-14ESect-13.6 P-15ESect-13.6 P-16ESect-13.6 P-17ESect-13.6 P-18ESect-13.6 P-19ESect-13.6 P-20ESect-13.6 P-21ESect-13.6 P-22ESect-13.6 P-23ESect-13.6 P-24ESect-13.6 P-25ESect-13.6 P-26ESect-13.6 P-27ESect-13.6 P-28ESect-13.6 P-29ESect-13.6 P-30ESect-13.6 P-31ESect-13.6 P-32ESect-13.6 P-33ESect-13.6 P-34ESect-13.6 P-35ESect-13.6 P-36ESect-13.6 P-37ESect-13.6 P-38ESect-13.7 P-1CPSect-13.7 P-2CPSect-13.7 P-1ESect-13.7 P-2ESect-13.7 P-3ESect-13.7 P-4ESect-13.7 P-5ESect-13.7 P-6ESect-13.7 P-7ESect-13.7 P-8ESect-13.7 P-9ESect-13.7 P-10ESect-13.7 P-11ESect-13.7 P-12ESect-13.7 P-13ESect-13.7 P-14ESect-13.7 P-15ESect-13.7 P-16ESect-13.7 P-17ESect-13.7 P-18ESect-13.7 P-19ESect-13.7 P-20ESect-13.7 P-21ESect-13.7 P-22ESect-13.7 P-23ESect-13.7 P-24ESect-13.7 P-25ESect-13.7 P-26ESect-13.7 P-27ESect-13.7 P-28ESect-13.7 P-29ESect-13.7 P-30ESect-13.7 P-31ESect-13.7 P-32ESect-13.7 P-33ESect-13.7 P-34ESect-13.7 P-35ESect-13.7 P-36ESect-13.7 P-37ESect-13.7 P-38ESect-13.7 P-39ESect-13.7 P-40ESect-13.7 P-41ESect-13.7 P-42ESect-13.7 P-43ESect-13.7 P-44ESect-13.7 P-45ESect-13.7 P-47ESect-13.8 P-1CPSect-13.8 P-2CPSect-13.8 P-3CPSect-13.8 P-1ESect-13.8 P-2ESect-13.8 P-3ESect-13.8 P-4ESect-13.8 P-5ESect-13.8 P-6ESect-13.8 P-7ESect-13.8 P-8ESect-13.8 P-9ESect-13.8 P-10ESect-13.8 P-11ESect-13.8 P-12ESect-13.8 P-13ESect-13.8 P-14ESect-13.8 P-15ESect-13.8 P-16ESect-13.8 P-17ESect-13.8 P-18ESect-13.8 P-19ESect-13.8 P-20ESect-13.8 P-21ESect-13.8 P-22ESect-13.8 P-23ESect-13.8 P-24ESect-13.8 P-25ESect-13.8 P-26ESect-13.8 P-27ESect-13.8 P-28ESect-13.8 P-29ESect-13.8 P-30ESect-13.8 P-31ESect-13.8 P-32ESect-13.8 P-33ESect-13.8 P-34ECh-13 P-1RECh-13 P-2RECh-13 P-3RECh-13 P-4RECh-13 P-5RECh-13 P-6RECh-13 P-7RECh-13 P-8RECh-13 P-9RECh-13 P-10RECh-13 P-11RECh-13 P-12RECh-13 P-13RECh-13 P-14RECh-13 P-15RECh-13 P-16RECh-13 P-17RECh-13 P-18RECh-13 P-19RECh-13 P-20RECh-13 P-21RECh-13 P-22RECh-13 P-23RECh-13 P-24RECh-13 P-25RECh-13 P-26RECh-13 P-27RECh-13 P-28RECh-13 P-29RECh-13 P-30RECh-13 P-31RECh-13 P-32RECh-13 P-33RECh-13 P-34RECh-13 P-35RECh-13 P-36RECh-13 P-37RECh-13 P-38RECh-13 P-39RECh-13 P-40RECh-13 P-41RECh-13 P-42RECh-13 P-43RECh-13 P-44RECh-13 P-45RECh-13 P-46RECh-13 P-47RECh-13 P-48RECh-13 P-49RECh-13 P-50RECh-13 P-51RECh-13 P-53RECh-13 P-54RECh-13 P-55RECh-13 P-1TCh-13 P-2TCh-13 P-3TCh-13 P-4TCh-13 P-5TCh-13 P-6TCh-13 P-7TCh-13 P-8TCh-13 P-9TCh-13 P-10TCh-13 P-11TCh-13 P-12TCh-13 P-13TCh-13 P-14TCh-13 P-15TCh-13 P-16T

Finite Mathematics

Finite Mathematics and Applied Calculus (MindTap Course List)

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

Precalculus: Mathematics for Calculus (Standalone Book)

Multivariable Calculus

Understanding Basic Statistics

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Applied Calculus

Calculus (MindTap Course List)

Calculus: An Applied Approach (MindTap Course List)

Calculus: Early Transcendental Functions

Essentials Of Statistics

Single Variable Calculus

Statistics for The Behavioral Sciences (MindTap Course List)

Intermediate Algebra

Probability and Statistics for Engineering and the Sciences

Single Variable Calculus: Early Transcendentals, Volume I

Calculus: Early Transcendentals

Elementary Technical Mathematics

Mathematical Excursions (MindTap Course List)

Elements Of Modern Algebra

Trigonometry (MindTap Course List)

Contemporary Mathematics for Business & Consumers

Elementary Geometry For College Students, 7e

Finite Mathematics for the Managerial, Life, and Social Sciences

Elementary Geometry for College Students

Calculus of a Single Variable

Calculus: Early Transcendental Functions (MindTap Course List)

Single Variable Calculus: Early Transcendentals

Study Guide for Stewart's Multivariable Calculus, 8th

Introduction To Statistics And Data Analysis

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Mathematics For Machine Technology

Multivariable Calculus

Statistics for Business & Economics, Revised (MindTap Course List)

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Calculus (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)

College Algebra (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)